Television is about twice the size of radio at Entravision, but both divisions had double digit revenue gains in Q2. In fact the same double digit: 10%.
Television revenues gained 10% to $34.8 million. Radio revenues grew 10% to $18.6 million. So, total revenues were up 10% to $53.4 million.
Consolidated adjusted EBITDA gained 16% to $19 million and free cash flow was up 37% to $7.1 million.
“During the second quarter, we generated solid revenue growth, primarily driven by World Cup advertising and retransmission consent revenue. Our audience shares remain strong in the nation’s most densely populated Hispanic markets, and we believe that our U.S. Hispanic audience will continue to grow. In addition, our recently-completed bond offering and new revolving credit facility extend the maturity of our debt and provide additional financial flexibility as we continue to seek to enhance shareholder value,” said Entravision CEO Walter Ulloa.
In his conference call with analysts, Ulloa said Q3 is pacing up in the mid single digits.